Islamic finance standardisation making headway

Efforts to standardise global investment practices that conform to Shariah have made significant progress over the past years and more developments are expected soon as industry players recognise the need to move in a common direction, a watchdog official said.
Ijlal Ahmed Alvi, Chief Executive Officer of the International Islamic Financial Market (IIFM), admitted that the process of creating and finalising regulations had been rather slow to take off because of the in-depth consultation that standard-setting bodies need to have with various units including banks, regulators, Islamic scholars and legal experts………………………………………..Full Article: Source